MSA Safety Incorporporated (NYSE:MSA) Trading Up 8.8% After Better-Than-Expected Earnings

MSA Safety Incorporporated (NYSE:MSA) shares were up 8.8% during trading on Friday following a better than expected earnings announcement. The stock traded as high as $189.12 and last traded at $189.7450. 22,273 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 260,925 shares. The stock had previously closed at $174.35.

The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.26. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.54%. The firm had revenue of $503.33 million during the quarter, compared to analyst estimates of $496.27 million. During the same period last year, the business earned $1.93 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis.

MSA Safety Incorporporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $0.54 per share. This is a boost from MSA Safety Incorporporated’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.16 dividend on an annualized basis and a yield of 1.1%. MSA Safety Incorporporated’s dividend payout ratio is 29.19%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MSA shares. Weiss Ratings raised MSA Safety Incorporporated from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 17th. DA Davidson reduced their price target on MSA Safety Incorporporated from $235.00 to $206.00 and set a “buy” rating for the company in a report on Monday, May 11th. Robert W. Baird set a $197.00 price target on MSA Safety Incorporporated in a research report on Wednesday, May 6th. Finally, Wall Street Zen cut shares of MSA Safety Incorporporated from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $203.60.

Insider Buying and Selling at MSA Safety Incorporporated

In other news, CFO Julie A. Beck purchased 448 shares of the stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $158.69 per share, with a total value of $71,093.12. Following the acquisition, the chief financial officer directly owned 3,825 shares of the company’s stock, valued at $606,989.25. This represents a 13.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by insiders.

Institutional Trading of MSA Safety Incorporporated

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in MSA Safety Incorporporated by 39.8% in the first quarter. Royal Bank of Canada now owns 47,391 shares of the industrial products company’s stock valued at $6,953,000 after acquiring an additional 13,501 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of MSA Safety Incorporporated during the 1st quarter valued at about $501,000. Jane Street Group LLC increased its position in shares of MSA Safety Incorporporated by 44.7% during the 1st quarter. Jane Street Group LLC now owns 4,401 shares of the industrial products company’s stock valued at $646,000 after purchasing an additional 1,359 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of MSA Safety Incorporporated by 94.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 96 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in shares of MSA Safety Incorporporated by 31.5% in the 2nd quarter. Baird Financial Group Inc. now owns 2,757 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 661 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

MSA Safety Incorporporated Stock Performance

The company has a quick ratio of 1.92, a current ratio of 3.17 and a debt-to-equity ratio of 0.45. The company has a market cap of $7.47 billion, a PE ratio of 25.94 and a beta of 0.95. The business’s fifty day moving average is $168.03 and its 200-day moving average is $175.05.

About MSA Safety Incorporporated

MSA Safety Incorporated develops, manufactures and supplies a wide range of safety products designed to protect workers in hazardous environments. The company’s offerings span personal protective equipment such as industrial helmets, face shields, protective clothing and fall protection devices, as well as fixed and portable gas detection and monitoring systems. MSA’s products are used in industries including oil and gas, mining, construction, fire service, and chemical processing to guard against risks such as gas leaks, impacts, flame exposure and falls from height.

Key product lines include self-contained breathing apparatus (SCBA) and air-purifying respirators, gas detectors and sensors, head and face protection, and fall arrest systems.